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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q4 | Jan 17, 2025 | Driehaus Small Cap Growth Fund | 1.1% | -34.3% | CALX, HALO, KNSL, PI, WSC | Fed policy, growth, inflation, infrastructure, Onshoring, Recession, small cap, Valuations | Manager believes inflation will continue to fall as key drivers (excess money supply, excess savings, supply chain issues, labor shortages) are normalizing. M2 money supply is now negative year-over-year, excess savings are declining, and supply chains have largely recovered. | View | |
| 2024 Q4 | Jan 17, 2025 | Driehaus Small/Mid Cap Growth Fund | 0.5% | 31.4% | CALX, FSLR, KNSL, PWR, WSC | Fed policy, growth, inflation, infrastructure, Onshoring, Recession, small cap, Valuations | Manager believes inflation will continue to fall as key drivers like excess money supply (M2 now negative year-over-year), excess savings, and supply chain issues have largely normalized. The Fed remains focused on labor market tightness and wage inflation as the primary remaining concern. | View | |
| 2023 Q4 | Jan 17, 2024 | Driehaus Small Cap Growth Fund | 6.4% | 27.0% | CALX, HALO, KNSL, PI, WSC | Biotechnology, Fed policy, growth, inflation, infrastructure, Onshoring, Recession, small cap | Manager believes inflation will continue to fall as key drivers (excess money supply, excess savings, supply chain issues, labor shortages) are normalizing. M2 money supply is now negative year-over-year, excess savings are declining, and supply chains have largely recovered. | View | |
| 2023 Q4 | Jan 17, 2024 | Driehaus Small/Mid Cap Growth Fund | 3.1% | 24.0% | CALX, FSLR, KNSL, PWR, WSC | Fed policy, growth, industrials, inflation, infrastructure, Onshoring, Recession, small cap | Manager believes inflation will continue to fall as key drivers (excess money supply, excess savings, supply chain issues) normalize. M2 money supply is now negative year-over-year, excess savings are declining, and supply chains have largely recovered. Labor shortages remain the biggest wildcard with tight employment markets. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Aug 8, 2025 | Seeking Alpha | Emmanuel Onwusah | Calix, Inc. | Information Technology | Software - Infrastructure | Neutral | NYSE | — | View Pitch |
| Manager Name | Fund Name | Fund AUM | Invested Value | Portfolio Weight | Shares Owned | Shares Bought / Sold During Quarter | % Bought / Sold During Quarter | % of Shares Outstanding Owned |
|---|---|---|---|---|---|---|---|---|
| Paul Tudor Jones | Tudor Investment Corp | $53.4B | $6.6M | 0.01% | 124,516 | -455,862 | -78.55% | 0.1897% |
| Ray Dalio | Bridgewater Associates | $27.4B | $3.5M | 0.01% | 65,536 | +29,642 | +82.58% | 0.0998% |
| Israel Englander | Millennium Management LLC | $233.2B | $76.3M | 0.03% | 1,441,912 | -523,006 | -26.62% | 2.1963% |
| David Siegel & John Overdeck | Two Sigma Investments | $67.5B | $1.0M | 0.00% | 19,565 | +1,300 | +7.12% | 0.0298% |
| Cliff Asness | AQR Capital Management | $190.6B | $1.9M | 0.00% | 36,829 | -12,779 | -25.76% | 0.0560% |
| Rich Handler | Jefferies | $19.3B | $297,096 | 0.00% | 5,613 | -17,287 | -75.49% | 0.0085% |